Essex Property Trust, Inc. (ESS) Given Buy Rating at Royal Bank Of Canada

Essex Property Trust, Inc. (NYSE:ESS)‘s stock had its “buy” rating restated by Royal Bank Of Canada in a research report issued on Sunday.

A number of other brokerages also recently weighed in on ESS. Cantor Fitzgerald reaffirmed a “buy” rating and set a $279.00 target price on shares of Essex Property Trust in a research note on Wednesday. Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Essex Property Trust in a research note on Friday, November 3rd. Mizuho downgraded shares of Essex Property Trust from a “neutral” rating to an “underperform” rating and set a $250.00 target price for the company. in a research note on Monday, November 6th. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $270.00 target price on shares of Essex Property Trust in a research note on Friday, November 3rd. Finally, Barclays PLC reaffirmed a “buy” rating and set a $283.00 target price on shares of Essex Property Trust in a research note on Thursday, October 19th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $266.87.

Shares of Essex Property Trust (NYSE ESS) opened at $256.38 on Friday. The company has a quick ratio of 1.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.88. Essex Property Trust has a 1-year low of $208.92 and a 1-year high of $270.04. The company has a market cap of $16,930.57, a PE ratio of 21.91, a price-to-earnings-growth ratio of 3.63 and a beta of 0.54.

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In related news, insider Angela L. Kleiman sold 2,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $263.37, for a total value of $649,470.42. Following the sale, the insider now owns 9,643 shares in the company, valued at $2,539,676.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Eudy sold 166 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $257.92, for a total transaction of $42,814.72. The disclosure for this sale can be found here. Insiders have sold 10,480 shares of company stock valued at $2,774,961 in the last three months. 3.30% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its holdings in Essex Property Trust by 50.4% in the third quarter. Wells Fargo & Company MN now owns 71,138 shares of the real estate investment trust’s stock worth $18,071,000 after purchasing an additional 23,841 shares during the last quarter. Zeke Capital Advisors LLC purchased a new stake in Essex Property Trust in the third quarter worth approximately $348,000. Cadence Capital Management LLC boosted its holdings in Essex Property Trust by 22.5% in the third quarter. Cadence Capital Management LLC now owns 5,302 shares of the real estate investment trust’s stock worth $1,347,000 after purchasing an additional 974 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Essex Property Trust by 134.9% in the third quarter. Schroder Investment Management Group now owns 13,389 shares of the real estate investment trust’s stock worth $3,388,000 after purchasing an additional 7,690 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Essex Property Trust by 10.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,367 shares of the real estate investment trust’s stock worth $1,363,000 after purchasing an additional 493 shares during the last quarter. Institutional investors own 99.98% of the company’s stock.

About Essex Property Trust

Essex Property Trust, Inc is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets.

Analyst Recommendations for Essex Property Trust (NYSE:ESS)

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